Chris Paul's time in the Valley of the Sun is over.
The Phoenix Suns informed Paul on Wednesday that he will be waived, according to Chris Haynes of Bleacher Report.
The 38-year-old future Hall of Famer will become a free agent after spending the last three seasons with the Suns.
With two years left on a four-year, $120million contract, Paul was due to make $30.8million this season but only $15.8million of that was guaranteed.
By clearing cap space, the Suns will now build around Kevin Durant and Devin Booker as they again try to capture the franchise's first championship under new coach Frank Vogel.
Despite being near the end of his career, Paul will still be considered one of this summer's top free agents, as he can still efficiently run an offense and excels at finding open teammates.
In his first season in Phoenix in 2020-21, he helped the Suns reach the NBA Finals, where they lost to the Milwaukee Bucks in six games.
With Paul running the point, Phoenix won a franchise-record 64 games in 2021-22, but the season ended at the hands of the Denver Nuggets in the Western Conference semi-finals.
This season also ended with the Nuggets again eliminating the Suns in the conference semis with Paul missing the final four games of the series after injuring his groin in Game 2.
A 12-time All-Star, Paul finished the 2022-23 season with a career-low 13.9 points per game, but still showed a proficiency at distributing the ball, with an average 8.9 assists to rank fourth in the NBA.
With career averages of 17.9 points, 9.5 assists, 4.5 rebounds and 2.1 steals, he is the only player in NBA history to average at least 15 points, nine assists, four rebounds and two steals.
His 11,501 career assists and 2,544 career steals are both third most in NBA history, trailing only John Stockton and Jason Kidd in both categories.
The fourth overall pick of the 2005 draft, Paul was named Rookie of the Year in 2005-06 and has been selected to the NBA All-Defensive first team seven times. The 18-year veteran has also been an All-NBA first-team selection four times, a second-team selection five years and a third-team selection twice.
Kerr demands improvements from Team USA as Olympic opener looms
United States coach Steve Kerr wants to see higher levels of intensity from his team as their Olympics campaign approaches.
Kerr was unhappy with the lacklustre displays from his side in their warm-ups against Germany and South Sudan.
Germany led 71-68 at the end of the third quarter before LeBron James conjured up 11 points in the final four minutes to give the USA a 92-88 win, while South Sudan were 20 seconds away from pulling off one of the biggest shocks in basketball history, before eventually falling to a 101-100 loss.
The USA face a dangerous Serbia side featuring reigning NBA MVP Nikola Jokic on Sunday, and Kerr is adamant that improvements are required if they are to win a fifth consecutive Olympic gold medal.
He said: "It's got to be 40 minutes of force and attention and focus, and we can't let teams outplay us effort and energy-wise like we did the other night against Germany, like we did against South Sudan.
“We have another level. I think we have another two levels that we can get to, but it's a collaboration, always.
"We can show them, 'Let's do this, let's do that. Let's learn personnel.'
"We got to know the shooters, know the non-shooters, all that stuff. So that's where we can help them. Where they can help themselves is just effort and energy play after play, after play. This is different."
Kerr is a four-time NBA champion as a coach, and was part of the triumphant Olympics team in Tokyo in 2021, but the Golden State Warriors boss knows the experience of the Games will only be enhanced if the USA were to come out on top again.
"This should be one of the great experiences of our lives. But the best way to make it an incredible experience is to win a gold medal," he said.
After facing Serbia, the USA will once again go up against South Sudan, this time in a competitive format, before ending the group stage with a match against Puerto Rico.
Durant warns Team USA 'everybody is a contender' in Olympic basketball tournament
Kevin Durant has warned Team USA they will not have an easy ride through the basketball tournament at the Paris Olympic Games, declaring: "Everybody is a contender".
The United States will go in search of a fifth straight men's basketball gold in the French capital, where they open their Group C campaign against Serbia on Sunday.
After that meeting with Nikola Jokic and company, the star-studded USA team featuring Durant, LeBron James, Stephen Curry, Joel Embiid and a host of other NBA stars take on South Sudan and Puerto Rico.
With Steve Kerr having so much talent at his disposal, the roster has been compared to that of the 1992 'Dream Team', who took gold in Barcelona behind the efforts of Michael Jordan, Magic Johnson, Larry Bird, Scottie Pippen and other great names.
However, at a press conference ahead of Team USA's 2024 opener, Curry reminded reporters that the class of 1992 only faced nine other active NBA players.
Durant is expecting a much tougher assignment this year, responding to Curry by saying: "Everybody is a contender. Everyone is here for a reason.
"We're playing against 65 or 64 NBA players in Paris. So you know they're the best in the world."
Asked to identify the main players to watch from other nations, the Phoenix Suns forward said: "Giannis [Antetokounmpo] or Jokic."
While Durant adopted a cautious tone, Golden State Warriors star Curry was more bullish regarding the USA's gold medal hopes.
Quizzed on who he was most excited about facing, Curry simply said: "Whoever's in the gold medal game."
Knicks, head coach Thibodeau agree to three-year contract extension
The New York Knicks and head coach Tom Thibodeau have agreed to a three-year contract extension through the 2027-28 season.
New York went 50-32 last season to earn the No. 2 seed in the Eastern Conference before losing to the Indiana Pacers in the semi-finals of the play-offs.
The Knicks were also ousted in the East semis in 2022-23 and reached the play-offs during Thibodeau’s first season in 2021-22, when he won his second NBA Coach of the Year award.
Prior to 2021-22, New York’s previous post-season appearance came in 2013.
The Knicks have gone 175-143 over the last four seasons under Thibodeau, who earned his first NBA Coach of the Year award in 2011 as a rookie head coach with the Chicago Bulls.
The 66-year-old Thibodeau owns a 527-389 record in 12 seasons as a head coach with Chicago, the Minnesota Timberwolves and New York.
His teams have gone 38-47 in the post-season, and Thibodeau’s only appearance in the conference finals came in his rookie head coach season.
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